Switzerland's national center for public statistics, the FSO produces and disseminates key statistical information showing the current status and trends in the areas of demographics, economy, society, planning and the environment. The FSO's vision is to deliver statistical information to sustain the democratic process in Switzerland. The information it provides helps shape public opinion, facilitate policy making and enable assessment of government action in the nation. |||The FSO celebrated the 150th anniversary of its founding in 2010, as its predecessor - the Statistical Office of the Federal Department of Home Affairs - was established in 1860. The FSO was previously dispersed over eleven different sites in Bern, but was moved to Neuchatel in 1998, with all its activities consolidated in a single location.
An individual who acts as the counterparty in a swap agreement for the fee (called a spread). |||These are the market makers for the swap market. Because swap arrangements aren't actively traded, swap dealers allow broker to standardize swap contracts to some extent.
The currency abbreviation for the Turkish new lira (TRY), the currency for Turkey and the Turkish Republic of Northern Cyprus. The Turkish new lira is made up of 100 new kurus and is often presented with the symbol YTL. |||The Turkish new lira was first introduced at the beginning of 2005 at an amount equivalent to 1 million Turkish old lira by passing a law that removed the last six zeros from the currency. The new lira was introduced after periods of high inflation devalued the old currency. For example, in the late 1960s, 9 liras was approximately equal to 1 U.S. dollar. In 2001, this exchange rate was 1.6 million:1.
The exchange rate risk associated with the time delay between entering into a contract and settling it. The greater the time differential between the entrance and settlement of the contract, the greater the transaction risk, because there is more time for the two exchange rates to fluctuate. |||Transaction risk creates difficulties for individuals and corporations dealing in different currencies, as exchange rates can fluctuate significantly over a short period of time. This volatility is usually reduced, or hedged, by entering into currency swaps and other similar securities.
The risk, faced by companies involved in international trade, that currency exchange rates will change after the companies have already entered into financial obligations. Such exposure to fluctuating exchange rates can lead to major losses for firms. |||Often, when a company identifies such exposure to changing exchange rates, it will choose to implement a hedging strategy, using forward rates to lock in an exchange rate and thus eliminate the exposure to the risk.
A trade penalty imposed by one nation onto one or more other nations. Sanctions can be unilateral, imposed by only one country on one other country, or multilateral, imposed by one or more countries on a number of different countries. Often allies will impose multilateral sanctions on their foes. |||import tariffs, licensing costs and administrative hurdles are often enforced, making it more difficult if not impossible for the nation(s) bearing the sanction to trade with the nation imposing it. An example of a trade sanction is the set of stringent penalties the United States' imposed against Cuba from 1963 to 2000. In the year 2000 some of the sanctions were repealed, specifically those on medical and agriculture goods.
A technical indicator that compares the number of advancing stocks on the Tokyo Stock Exchange to the number that are declining. The result is used by technical traders to determine the likelihood of a market correction. |||This indicator would be classified as a market breadth indicator because it only incorporates the number of advancing and declining issues to determine the broad support of any given move. Other types of breadth indicators include the advance-decline index, cumulative volume index, McClellan oscillator and Haurlan index.
A method of analysis that involves looking at the "big picture" first, and then analyzing the details of smaller components. By first analyzing the overall picture, such as a macroeconomic trend, an investor can start narrowing potential companies to analyze. A trader that uses technical analysis may use top-down analysis as part of their trading system. |||A day trader may first analyze daily or weekly charts to determine the asset's longer term trend, and strong support and resistance levels; and then move to a smaller time frame of charts, to determine a good entry point. For example, if an asset is trending upwards on the daily chart, and there is good bullish momentum on the hourly chart, a trader using top-down analysis could then move to a 15 minute chart and find a good entry point for a long position.